Hilton Worldwide (NYSE:HLT) Issues FY 2024 Earnings Guidance

Hilton Worldwide (NYSE:HLT) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 6.930-7.030 for the period, compared to the consensus EPS estimate of 7.060. The company issued revenue guidance of -. Hilton Worldwide also updated its FY24 guidance to $6.93-7.03 EPS.

Hilton Worldwide Stock Down 2.2 %

Shares of NYSE:HLT traded down $5.12 during midday trading on Wednesday, hitting $233.01. 974,551 shares of the stock traded hands, compared to its average volume of 1,556,854. The stock has a market capitalization of $58.26 billion, a PE ratio of 51.74, a P/E/G ratio of 2.60 and a beta of 1.31. The business’s 50 day moving average is $224.00 and its two-hundred day moving average is $213.80. Hilton Worldwide has a one year low of $147.58 and a one year high of $240.00.

Hilton Worldwide (NYSE:HLT) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.86 by $0.05. The firm had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.90 billion. Hilton Worldwide had a net margin of 11.20% and a negative return on equity of 69.65%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.63 earnings per share. As a group, sell-side analysts forecast that Hilton Worldwide will post 7.05 earnings per share for the current year.

Hilton Worldwide Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 23rd were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.26%. The ex-dividend date was Friday, August 23rd. Hilton Worldwide’s dividend payout ratio is currently 13.04%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on HLT shares. The Goldman Sachs Group started coverage on shares of Hilton Worldwide in a research report on Wednesday, September 18th. They set a “buy” rating and a $245.00 price target on the stock. Bank of America boosted their price target on shares of Hilton Worldwide from $230.00 to $265.00 and gave the company a “buy” rating in a research report on Monday. Wells Fargo & Company boosted their price target on shares of Hilton Worldwide from $200.00 to $237.00 and gave the company an “equal weight” rating in a research report on Tuesday. Robert W. Baird set a $235.00 price objective on shares of Hilton Worldwide in a report on Thursday, October 17th. Finally, Barclays upped their price objective on shares of Hilton Worldwide from $224.00 to $244.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $221.42.

Insider Activity at Hilton Worldwide

In related news, insider Laura Fuentes sold 4,919 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $217.00, for a total transaction of $1,067,423.00. Following the completion of the transaction, the insider now directly owns 15,949 shares of the company’s stock, valued at approximately $3,460,933. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.50% of the stock is currently owned by corporate insiders.

Hilton Worldwide Company Profile

Hilton Worldwide Holdings Inc, a hospitality company, engages in managing, franchising, owning, and leasing hotels and resorts. It operates through two segments, Management and Franchise, and Ownership. The company engages in the hotel management and licensing of its brands. It operates luxury hotels under the Waldorf Astoria Hotels & Resorts, LXR Hotels & Resorts, and Conrad Hotels & Resorts brand; lifestyle hotels under the Canopy by Hilton, Curio Collection by Hilton, Tapestry Collection by Hilton, Tempo by Hilton, and Motto by Hilton brand; full service hotels under the Signia by Hilton, Hilton Hotels & Resorts, and DoubleTree by Hilton brand; service hotels under the Hilton Garden Inn, Hampton by Hilton, and Tru by Hilton brand; all-suite hotels under the Embassy Suites by Hilton, Homewood Suites by Hilton, and Home2 Suites by Hilton brand; and economy hotel under the Spark by Hilton brand, as well as Hilton Grand Vacations.